Lake Wylie Real Estate

Lucky You Could Own A Home

January 27, 2020 by lkw_df Leave a Comment

If you had 11, 33, 44, 59 and 67 with Powerball number 8, you are the lucky winner who won $50,000 in the lottery on Wednesday. The winning ticket was purchased at the QuickTrip on Charlotte Highway. You have 180 days from the drawing date to collect your prize, and we know just the way to help you spend your winnings.

When you purchase a home, banks want you to put down 20% of the purchase price. If you don’t have 20% of the purchase price, there are ways to still purchase a home. You can have two loans and only put down 5%. One of the loans will be for 80% and the other will likely have a higher interest rate but will be for the other 15%.

Another way to purchase a home without the full 20% down is to find a property that will accept an FHA loan. These types of loans have a few more requirements for the borrower, but you will be able to purchase a home with only 3.5% as a down payment if you have a FICO® credit score of at least 580. FHA loans also require a debt-to-income ratio less than 43% and income and employment verification. Your loan officer will let you know all of the other qualifications you will need, but the property will also have to pass a more rigorous FHA inspection.

If you have 20% or more to put down on the purchase of your first or next home, you may qualify for some of our historically low interest rates. Banks look at how much debt you have, what your income level is, what assets you have, and more to determine your interest rate for a loan.

If you are in the market to purchase a home in the Lake Wylie area, give us a call at 803-831-8588. We can put you in touch with the right people to get your loan process started, then we will help you find your perfect home. You can view all current listings and create custom searches on our website here.

End of Year Market Wrap Up

January 21, 2020 by lkw_df Leave a Comment

The Charlotte area had a great year in the Real Estate market. Despite inventory woes, prices were up for both median and average for the entire year of 2019. Median price was up 7.1% over 2018 to $255,000. The average price was up 5.9% to $303,722. This is great news for sellers, but is not as great for buyers who have to bring more money to a purchase.

There is more good news for the entire Charlotte area where new listings, pending sales, and sales of homes were up year over year. Closed sales were up 5.9% with 50,854 homes successfully heading to the closing table. Pending sales were up 8.9% to 52,031 homes. There were 61,069 new listings, up 1.7%.

The numbers for Lake Wylie look good as well. Closed sales were up 19.7% to 1,474 homes sold. There were 1,536 pending sales, a rise of 27.2%. New listings were up to 1,850 which represents an increase of 11.3% year over year. This looks good for 2020 as the market is robust with sales.

Also interesting is that the average sales price in the area is almost flat year over year. There was a slight increase from $397,844 last year and $399,851 this year. This 0.5% increase could be a sign of a few waterfront properties difference, or could be a trend with more affordable homes sold in the area. The median sale price was actually down year over year, but not by much. The 1.4% decrease took the median sales price from $354,765 to $349,900. It is important to remember that these numbers can be skewed compared to the whole Charlotte region due to small sample size.

Homes spent less time on the market in 2019 vs. 2018. Days on market until sale was down by 8 days from 69 to just 61, a decrease of 11.6%. This shows that the area is very desirable. It looks like Lake Wylie’s real estate market is in position to remain strong in 2020.

If you are interested in buying or selling a home in the Lake Wylie area, give us a call at 803-831-8588. You can view all current listings and create custom searches on our website here.

December Market Report

January 16, 2020 by lkw_df Leave a Comment

It’s a new year and there is a new name for the Carolina Regional Realtor Association. They have rebranded and are now known as the Canopy Realtor Association. The name means shelter, support, nurturing, growth, and coverage and is fitting since the association encompasses more area than ever before. It spans through 12 counties in North Carolina and 4 counties in South Carolina and now includes separate reporting for Asheville. They still provide the same reporting from the rebranded Canopy MLS previously Carolina MLS.

The big story from the Charlotte Region in December is the same as most of the rest of the year. There is a lack of inventory, and climbing prices in the area. There is now just a 1.7 month supply of homes in December 2019 compared with a 2.4 month supply in December of 2018, that’s a decrease of 29.2%. Average prices were up 9.9% from $281,728 to $309,752. There is hope for change next year as new listings, pending listings, and closed sales were all up over last year at this time. This could signal a very good January.

When you look at the numbers for Lake Wylie, we are starting to feel more of the inventory pinch that the rest of the region has been plagued with for so long. There is now a 2.3 month supply of homes, down 37.8% from a 3.7 month supply last year. Average home price was actually down from last year at this time from $410,735 to $369,221, a decline of 10.1%. Keep in mind that a few waterfront sales can change that number dramatically due to the small sample size. The market does look like it will be strong in January due to new listings, pending sales, and closed sales were all up year over year.

If you are interested in buying or selling a home in the Lake Wylie area, give us a call at 803-831-8588. You can view all current listings and create custom searches on our website here.

Featured Listing: 144 Autumn Falls #17

January 9, 2020 by lkw_df Leave a Comment

A rare opportunity to own an immaculate townhome in Autumn Cove is available now. This wonderful home has everything you need and is close to shopping, dining, highway access, commuting distance to Uptown Charlotte, and is close to Lake Wylie. The home is zoned for award winning Clover schools, yet has lower South Carolina taxes. This impressive home is a must see and won’t last long.

This home has a great open floor plan with the kitchen open to the breakfast room, and large great room. This is the perfect place to entertain as there is also a dining room and a half bath downstairs. Upstairs you will find the large master with spacious walk-in-closet and en suite bath complete with a garden tub and separate shower. There are two additional bedrooms and one more full bathroom upstairs.

Outside this home you will find a private fenced back yard with patio perfect for outdoor dining and relaxing by the fire pit. There is also a one car garage perfect for car storage or to set up as a workshop.

Autumn Cove is located right across the street from Crowders Creek Elementary School on the Lake Wylie Road peninsula. This means that you are close to the Buster Boyd Bridge right in the heart of Lake Wylie. Residents can enjoy the outdoor community pool, playground, and walking trails.

If you would like to schedule a private tour of this home or any other home in the Lake Wylie area, give us a call at 803-831-8588. You can view additional details on this home here and view all current listings and create custom searches on our website here.

Get In On Brown Burrough

January 9, 2020 by lkw_df Leave a Comment

If you’re interested in a great home on a large lot in Clover, South Carolina, Brown Burrough may be the right place for you. The neighborhood is tucked back off of Highway 321 about halfway between Clover and York. You are truly in the heart of the country, but with nearby shops and restaurants, you have everything you need close by.

Lots in Brown Burrough are all right around an acre in size and most of the lots have abundant large old growth trees and woods. Many of the homes are set back a good ways from the road giving privacy and some of the homes have gated entry at the driveway. There is no homeowner’s association, which also means no community amenities, though there are many places nearby to engage with the community. You can also quickly get to Lake Wylie to enjoy the lake and surrounding areas.

Homes in Brown Burrough were built in the late 1990’s to the early 2000’s and many of them show like brand new. Homes have between 2 and 3 bedrooms and 2 bathrooms in 1,100 to 1,800 square feet of living space. Many of the homes have great outdoor living and gathering spaces. Some have spaces to park an RV, some have outbuildings or storage sheds. In the past year homes sold for an average price of $128,667 making it an affordable option as well.

Homes in Brown Burrough don’t come on the market very often, in fact only three homes sold there in the last year. They are very desirable as the longest any of the homes stayed on the market before going under contract was 5 days. There is currently one home on the market in the neighborhood, and it went under contract in just 2 days. Give us a call at 803-831-8588 and we can help you be prepared the minute one of these homes comes on the market. You can view all current listings and create custom searches on our website here.

Neighborhood Spotlight: Clarendon Estates

December 30, 2019 by lkw_df Leave a Comment

Just across the Buster Boyd Bridge, you will find the amazing neighborhood of Clarendon Estates. This community is made up of 74 homes with large lots, newer homes with plenty of space and great storage. They are close to Lake Wylie, Rock Hill and are commuting distance from Uptown Charlotte. There is great shopping and dining nearby as well as natural areas and parks to enjoy the lake. Residents enjoy lower South Carolina taxes, but still get to take advantage of award winning Clover schools.

Homes in Clarendon Estates were built around 2004-2008 and are typically 3-4 bedrooms and 2-3 bathrooms in 2,400 to over 3,000 square feet of living space. Homes have many high end features including chef’s kitchens, granite counters, custom cabinetry, hardwood flooring, and crown molding. Many of the homes have bonus rooms, home offices, guest suites and more.

Many of the homes have great outdoor living spaces to take advantage of the scenery of the large yards. Most of the lots are between one and two acres affording plenty of privacy. Some of the homes have detached garages with plenty of room for a workshop, or possibly a second living quarters.

In the past year, only five homes sold in Clarendon Estates showing that homeowners are reluctant to leave this tranquil spot. They sold for between $325,000 and $445,000 with an average sale price of $395,500. Homes sold quickly as well, with most of them spending a month or less on the market before going under contract.

If you are interested in joining the community in Clarendon Estates, give us a call at 803-831-8588. There is currently one home listed for sale, but showings will not start until just after the holidays. You can view all current listings and create custom searches on our website here.

Explore Golden Pond

December 23, 2019 by lkw_df Leave a Comment

Picture yourself living in a great neighborhood close to Lake Wylie with a private pond, and oversized lots with tons of privacy. Sound good, then you need to check out Golden Pond. This pocket neighborhood is located off of Hands Mill Highway on the South Carolina side of the lake.

From Golden Pond, you can get to Charlotte Highway 49 in just a few minutes so you can have a quick commute in to Uptown Charlotte and Rock Hill. This also connects you to the lake to enjoy watersports, as well as into the town of Lake Wylie for shopping, dining, and community gatherings.

The homes in Golden Pond are varied and range from ranch style to double wide homes. Homes were built in the late 1990’s and typically have 3-4 bedrooms, 2-4 bathrooms, and around 1,200 to 2,000 square feet. Many of the homes have multiple outbuildings for storage, parking, workshops, second living quarters and more. Some of the homes have great features to enjoy the wildlife such as decks, patios, and sunrooms. There are even a few with pools, either in-ground or above-ground. There is no homeowner’s association so you can be as active or inactive in the community as suits your needs.

Homes in Golden Pond sell quickly, in the last year only four homes sold in a range of 0 to 12 days on the market before they went under contract. These homes sold for between $123,000 and $164,000 so they are a great value due to the location and size of lots.

If you are interested in a home in Golden Pond, call us at 803-831-8588. We will let you know as soon as one comes on the market. You can view current listings and create custom searches on our website here.

Neighborhood Spotlight: Clover Meadows

December 16, 2019 by lkw_df Leave a Comment

If you are looking for a family friendly neighborhood in Clover, South Carolina, look no further than Clover Meadows. This great spot is one of the largest subdivisions in Clover meaning that there is a great community feel. There have been three builders, Craft Homes USA who built from 2003-2005, CP Morgan between 2005-2009, and True Homes is doing the final building phase that started in 2009 and is almost complete. These homes enjoy lower South Carolina taxes, which also feeding to spectacular Clover schools.

Clover Meadows is located just off Main Street a little bit to the North of the heart of Clover. Residents are close to Lake Wylie, but can also head straight North to Gastonia, or to highway access to connect to Uptown Charlotte, and Charlotte Douglas International Airport. There are many choices for shopping, dining, and entertainment close by.

Homes in Clover Meadows are affordable with the average price hitting just over $200,000 over the last year. There are many homes still in the mid-$100,000’s. Most of the homes are around 1,700 to 2,800 square feet but there are a few homes that are over 4,000 square feet of living space. Homes have a range between 3 and 5 bedrooms and 2 and 2.5 bathrooms. Homes have 1 to 3 car garages, and have low maintenance exteriors, some with stone and brick detailing. Interiors have open floor plans and plenty of storage.

If you are interested in joining the community in Clover Meadows, give us a call at 803-831-8588. We can arrange a private tour of homes, and can advise you further on the local real estate market. You can view all current listings and create custom searches on our website here.